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Full-Text Articles in Finance and Financial Management
Heterogeneity In The Speed Of Adjustment To Target Leverage: A Uk Study, James Fitzgerald, James Ryan, Sheila Killian
Heterogeneity In The Speed Of Adjustment To Target Leverage: A Uk Study, James Fitzgerald, James Ryan, Sheila Killian
Conference papers
Responding to the need to address heterogeneity in the speed of adjustment (SOA) to target leverage in a manner that reflects the fractional nature of leverage, we estimate SOAs across sub-samples of UK firms using the Dynamic Panel Fractional estimator (DPF). Using firm risk as a categorising variable, we show that riskier firms tend to adjust to target leverage at a faster rate, suggesting opportunity costs of being away from target leverage are higher for riskier firms. We also demonstrate the bias in SOAs as estimated using a model that does not account for the fractional nature of leverage, and …
Words Worth Price And Value, Tom Dunne
Words Worth Price And Value, Tom Dunne
Articles
TOM DUNNE explains the terms used in relation to the valuation of property, and the need for common understanding among all parties using those terms. -
Upping The Ante, Thomas Power
Upping The Ante, Thomas Power
Articles
The aim of this essay is to present the inherent barriers to the achievement of full co-operative solutions to global environmental problems. It reviews the literature of Swanson, Barrett, Pearse and Helme to explain the problems associated with multilateral bargaining and to compare two types of bargaining, namely “ex-post” and “ex-ante”. It attempts to apply the theoretical guidelines on multilateral bargaining to GATT.,